Creativity and Innovation in Entrepreneurship, Contemporary Entrepreneurship,
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Date
2015
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Technical and Entrepreneurship Centre, University of Ilorin.
Abstract
Creativity is a process by which a symbolic domain in the culture is changed. New songs, new
ideas, new machines are what creativity is about Mihaly(1997). Creativity is the ability to
make or otherwise bring into existences something new, whether a new solution to a problem,
a new method or device, or a new artistic object or form. Wyckoff (1991) defines creativity as
new and useful. Creativity is the act of seeing things that everyone around us sees while
making connections that no one else has made. Creativity is moving from the known to the
unknown. Culture exerts a negative force on creativity according to Pearce (1974), however,
“were it not for creativity, culture itself would not be created.”
No entrepreneur or enterprise, however successful and big, can continue to hold a place of
leadership unless it recognizes that modern business operates in a world of galloping change
which creates new problems, risk and opportunities and for which they have to mobilize the
enterprise’s resources before changes make their impact felt. To do successfully, the
entrepreneur and enterprise should know where this firm is going and how the firm will get
there. This is turn requires a clear definition of the company’s business which will enable it to
continually adopt operations to the realities of the market place, ‘the very corner stone of
survival and growth”
Innovation is defined as adding something new to an existing product or process. The key
words are adding and existing. The product or process has already been created from scratch
and has worked reasonably well. When it is changed so that it works better or fulfils a different
need, then there is innovation on what already exists. Innovation is the successful exploitation
of new ideas.
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Entrepreneurship Book
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